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Asia Stock Loans SECP PKR

Pakistan Stock Loans against PSX shares

A stock loan against shares you hold on Pakistan’s principal equity venue — for family offices, founders and controlling shareholders, without selling a single share.

01 · Process
How it works

From enquiry to funding.

—StageWhat happensTiming
01Confidential enquiryThe holding and the objective, shared under NDA through a secure channel.Day one
02Indicative termsStructure, sizing and indicative pricing returned against the position.1–2 days
03Structuring & documentationKYC, share and market review; terms formalised under institutional documentation alongside your counsel.1–2 weeks
04Custody & fundingPledged shares held at a qualified custodian; collateral secured and proceeds released.On completion
02 · The Market
Asia

Pakistan equity markets.

A Pakistan stock loan lets a founder, sponsor family or controlling shareholder raise cash against a position listed on the Pakistan Stock Exchange without selling it, without surrendering voting control, and while staying the beneficial owner until the facility is repaid. The Pakistani rupee floats rather than holding a peg, so a USD or EUR drawdown against a PKR-listed line carries genuine currency risk — which Black Haven hedges and documents expressly, with repatriation routed through a Special Convertible Rupee Account.

What shapes a Pakistan facility is the disclosure regime and the concentration of the market. Under the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, acquiring an interest that carries 10% or more of a listed company’s voting shares is notifiable to the company, the PSX and the SECP — and the interest a lender takes can fall within that, so the pledge is sequenced around it. Liquidity is rarely the constraint for KSE-100 and KSE-30 constituents, where free float and single-stock turnover support a higher loan-to-value; it weighs more on Growth Enterprise Market lines and thin small-caps. Shares settle T+2 through the National Clearing Company (NCCPL), which governs when the pledge is perfected and the loan can be drawn.

Pakistan stock loans at a glance:

Listed venuePakistan Stock Exchange (PSX)
RegulatorSecurities and Exchange Commission of Pakistan (SECP)
CurrencyPKR
SettlementT+2
Disclosure threshold10%
Principal indicesKSE-100, KSE-30
StructureNon-recourse, limited- or full-recourse

Regulatory references are published for general orientation and are not legal advice.

03 · Exchanges
One Venue

Each Pakistan exchange, covered.

PSX · Karachi

Pakistan Stock Exchange

Formed in 2016 from the integration of the Karachi, Lahore, and Islamabad exchanges. The principal South Asian frontier venue, with concentrated free floats and active single-stock liquidity in the large-cap names.

View PSX →
04 · FAQ
Pakistan · Stock Loans

What holders ask about Pakistan.

01Does a share pledge in Pakistan have to be disclosed to the SECP?
It can. Under the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, an interest carrying 10% or more of a listed company’s voting shares is notifiable to the company, the PSX and the SECP, and the interest a lender takes can fall within that. Black Haven maps the exact notification and timing to your holding before anything is executed, and sequences the pledge around it. This is general orientation, not legal advice.
02Can I borrow in US dollars against Pakistan-listed shares?
Yes, though the mechanics differ from a pegged market. The Pakistani rupee floats, so a USD or EUR facility drawn against a PKR-listed line carries real currency risk that Black Haven hedges and sets out in the documentation. Cross-border flows and repatriation of proceeds run through a Special Convertible Rupee Account under State Bank rules, and the drawdown and settlement are structured around that.
03How much can I borrow against Pakistan-listed shares?
The loan-to-value is set to your holding — its free float, daily traded volume, volatility, and your own regulatory standing. A large-cap with deep free float supports a higher LTV than a thin mid-cap, and a non-recourse structure runs lower than a full-recourse one on the same stock. We quote indicative ratios only after reviewing the position.
04Which Pakistan exchanges can I borrow against?
We cover Pakistan Stock Exchange (PSX). Financing is arranged against shares listed there; which venue applies depends on the issuer’s primary listing and how the holding trades.
05What currency can the facility be drawn in?
The default is PKR, the listing currency. Cross-currency structures — drawing a USD or EUR loan against the position — are common, and bring hedging, settlement and tax points we set out expressly in the documentation.
06Who regulates these transactions in Pakistan?
Securities and Exchange Commission of Pakistan (SECP) is the principal regulator. Black Haven Investments lends as principal; lending and any regulated activity are conducted by, or through, appropriately licensed or registered entities in the relevant jurisdiction.
07What is the settlement cycle on Pakistan exchanges?
Equities listed on Pakistan Stock Exchange (PSX) generally settle on T+2. The settlement cycle governs when the pledge over the shares is perfected and the loan can be drawn, so we align the funding mechanics to it.
08At what level does a shareholding become disclosable in Pakistan?
The principal threshold is 10%, under Substantial-acquisition and beneficial-ownership disclosure under the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations overseen by SECP. Crossing it — in either direction — triggers a notification, and a pledge can itself be relevant; we map the exact levels to your holding before anything is executed.
09Can a foreign or offshore holder pledge Pakistan-listed shares?
Generally yes. The shares sit with a qualified custodian and are pledged to secure the facility; any foreign-ownership limits or registration requirements turn on the issuer and sector, and we check them against your specific line at the structuring stage.
10How long does it take to arrange a stock loan in Pakistan?
Indicative terms typically follow within one to two business days of a confidential enquiry. Documentation and funding usually complete within about three weeks, depending on custody onboarding and the size of the position.
05 · Adjacent Markets
Asia

Countries adjacent to Pakistan.

Hong Kong · Japan · China · South Korea · Taiwan · Singapore · Australia · New Zealand · India · Thailand · Indonesia · Malaysia · Philippines · Vietnam · Sri Lanka · Kazakhstan · Bangladesh

All countries →

Guides

Related guides.

Fundamentals

How Much Can You Borrow Against Your Shares?

There is no flat figure. The advance against listed shares is set to the specific holding, driven by liquidity, volatility, concentration, your regulatory standing and the recourse profile you choose.

Read → Risk

What Happens If Your Stock Falls During a Loan?

If your pledged shares fall in value during a loan, what happens depends entirely on the structure you agreed at the outset — recourse facilities can call for a top-up, non-recourse facilities cannot.

Read → Process

How to Get a Stock Loan: The Process, Step by Step

Getting a stock loan runs through five disciplined stages: a confidential enquiry, indicative terms, documentation, custody and pledge, then funding under a single accountable principal.

Read →

A particular Pakistan holding to talk through?

Send a confidential enquiry, and a senior principal will reply within one business day.

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